PagerDuty Inc. shares surged in the extended session Thursday after the DevOps software company topped Wall Street estimates for the quarter and guided higher than the analyst consensus.
shares rallied 14% after hours, following a 1.2% rise in the regular session to close at $44.30. The stock was up 15% premarket Friday.
The company reported a fiscal second-quarter loss of $29.8 million, or 35 cents a share, compared with a loss of $14.4 million, or 28 cents a share, in the year-ago period. The adjusted loss was 13 cents a share, compared with 4 cents a share in the year-ago period.
Revenue rose to $67.5 million from $50.7 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 15 cents a share on revenue of $65.6 million.
“Our solid topline beat was driven by accelerating demand for both our new Automation offering and our comprehensive Digital Operations plan, especially in the enterprise and mid-market segments,” said Jennifer Tejada, PagerDuty chief executive, in a statement. “Nearly 18,000 companies now run on our platform and as the world’s greatest enterprises transform into digital leaders, PagerDuty is becoming the Operations Cloud for the modern enterprise.”
PagerDuty expects an adjusted loss of 10 cents to 9 cents a share on revenue of $69 million to $71 million in the first quarter, and an adjusted loss of 39 cents to 35 cents a share on revenue of $273 million to $276 million for the year.
Analysts had forecast a loss of 9 cents a share on revenue of $68.3 million for the third quarter, and 39 cents a share on revenue of $270.4 million for the year.